Further winter price changes from big six

mattBusiness Electricity, Business Gas, Wholesale Utilities Markets

British Gas and ScottishPower up prices, while EDF commit to freezing at current rates this winter. In October, when SSE announced a 9.4% price rise, it was expected that other suppliers would follow suit. British Gas has announced a rise of 7% for domestic electricity and gas tariffs, while ScottishPower have just increased an average increase of 8.9% for electricity … Read More

EDF’s UK Distribution network taken over

mattBusiness Electricity, International, Utilities Market Regulation, Wholesale Utilities Markets

A Hong Kong consortium has announced the takeover of EDF’s UK distribution network for £5.7 billion The completion of the purchase was announced on 30 October. The Hong Kong consortium is comprised of Cheung Kong Infrastructure Holdings (CKI) and Hongkong Electric Holdings, and is fronted by Hong Kong’s richest man, Li Ka-shing. Both CKI and HK Electric hold a 40% … Read More

Profits rise 98% at British Gas

mattBusiness Electricity, Business Gas

British Gas profits show a 98% rise in first half of 2010 Centrica have announced that British Gas made operating profits of £585 million for the first half of the year. Centrica, parent company of British Gas also released their profit increase of 65% to £1.56 billion Being Britain’s largest domestic energy supplier, supplying power to half of UK households … Read More

BT in Smart Meter Plan

mattBusiness Electricity, Business Gas, Business Telecoms

British Telecom launches a bid to be included in the Smart Meter roll-out The UK Government have set a target of rolling out smart meters – energy meters which will enable suppliers to take meter readings via a wireless network – to every home in the UK by 2020. This is a plan that is estimated to cost over £7 … Read More

Nuclear power & a new government

mattBusiness Electricity, Wholesale Utilities Markets

What is the UK Nuclear industry looking forward to under a new government? Hung Parliament & Nuclear Power Following the televised debates, polls are indicating that the chances of one party gaining enough of a majority to be elected has significantly dropped. This has led to concerns that the nuclear power plans put in place by the Labour government could … Read More

Fear of steep energy price rises in future

mattBusiness Electricity, Business Gas

Ofgem review of energy market predicts future prices are going only one way. The report, named ‘Project Discovery’, reviews a series of possible energy climate scenarios that the world could experience, and all four of the scenarios see a rise in price over the 10 years. The report claims that £200bn of investment is needed in the UK’s energy market … Read More

European Commission deems electricity prices too high

mattBusiness Electricity

The European Commission is to carry out an investigation into electricity prices. This comes following suspicions of excessive pricing due to wholesale price cuts not being passed on to consumers. With 60 percent of consumers across the EU last year reporting a rise in their electricity bills, the fact that the wholesale price of electricity has come down by 35 … Read More